Part of your new accountant's role will be involved with budgeting for future years. So you can understand where she is coming from, you ask her to talk about the following with you: Explain how...

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Part of your new accountant's role will be involved with budgeting for future years. So you can understand where she is coming from, you ask her to talk about the following with you:
  • Explain how revenue sources are planned and budgeted in nonprofits.
  • What are some typical key assumptions that must be made in the "revenue sources" budgeting process of nonprofits, and what could cause these assumptions to be invalid?
What are at least 4 of the key revenue assumptions that must be made in a for-profit entity?
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ACCT445-1202B-01 Government/Institutional AccountingAssignment Name:Unit 5 Discussion BoardDeliverable Length:250–300 wordsDetails:Part of your new accountant's role will be involved with budgeting for future years. So you can understand where she is coming from, you ask her to talk about the following with you:Explain how revenue sources are planned and budgeted in nonprofits.What are some typical key assumptions that must be made in the "revenue sources" budgeting process of nonprofits, and what could cause these assumptions to be invalid?What are at least 4 of the key revenue assumptions that must be made in a for-profit entity?The following grading criteria will apply to this assignment:Grading Criteria30%Explain how revenue sources are planned and budgeted in nonprofits.25%What are some typical key assumptions that must be made in the "revenue sources" budgeting process of nonprofits, and what could cause these assumptions to be invalid?25%What are at least 4 of the key revenue assumptions that must be made in a for-profit entity?20%Post a response to the Discussion Board and comment on other postingsObjective:? Analyze accounting and reporting requirements for not-for-profit organizations? Improve research, oral and written communication skills and reinforce ethical and professional business conduct

Answered Same DayDec 20, 2021

Solution

Robert answered on Dec 20 2021
3 Votes
Budgets 1
Introduction:
Not for profit organization as well as governmental organizations is disciplined by their
udgets. The budgets prepared are basically used for planning, controlling, administrating,
eporting and evaluating. Budgets help in different perspectives of planning which takes into
perspective different activities like resource acquisition and allocation. They lay the foundation
for end of period reports and evaluations. At the end of period, budgets are compared with the
eal revenue and spending by the organization for evaluation.
Revenue sources:
All the revenue sources and expenditures are
ought into focus through Appropriation
udgets. This budget
ings to focus all the revenues and expenditures that are likely to be
incu
ed by the organization. This budget takes...
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